Riggs Asset Managment Co. Inc. lifted its position in shares of Apple Inc. (NASDAQ:AAPL) by 2.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,821 shares of the iPhone maker’s stock after purchasing an additional 565 shares during the quarter. Apple accounts for approximately 2.4% of Riggs Asset Managment Co. Inc.’s portfolio, making the stock its 19th largest holding. Riggs Asset Managment Co. Inc.’s holdings in Apple were worth $4,663,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of AAPL. Nuveen Asset Management LLC grew its stake in shares of Apple by 2,874.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 35,914,893 shares of the iPhone maker’s stock worth $7,108,275,000 after purchasing an additional 34,707,634 shares during the period. Thoroughbred Financial Services LLC grew its stake in shares of Apple by 19,949.3% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 10,055,128 shares of the iPhone maker’s stock worth $1,005,513,000 after purchasing an additional 10,004,976 shares during the period. Great West Life Assurance Co. Can acquired a new stake in shares of Apple during the 2nd quarter worth approximately $809,074,000. California Public Employees Retirement System grew its stake in shares of Apple by 28.2% during the 3rd quarter. California Public Employees Retirement System now owns 10,844,434 shares of the iPhone maker’s stock worth $2,428,828,000 after purchasing an additional 2,382,156 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of Apple during the 2nd quarter worth approximately $459,677,000. 58.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of AAPL opened at $260.14 on Friday. The stock has a market cap of $1,142.50 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 1.83 and a beta of 1.25. Apple Inc. has a 52-week low of $142.00 and a 52-week high of $260.44. The firm’s fifty day moving average is $235.37 and its two-hundred day moving average is $209.53. The company has a quick ratio of 1.50, a current ratio of 1.54 and a debt-to-equity ratio of 1.01.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Wednesday, October 30th. The iPhone maker reported $3.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.19. The company had revenue of $64.04 billion for the quarter, compared to analyst estimates of $62.86 billion. Apple had a net margin of 21.24% and a return on equity of 53.82%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.91 earnings per share. As a group, research analysts anticipate that Apple Inc. will post 13.17 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Monday, November 11th will be paid a dividend of $0.77 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.08 dividend on an annualized basis and a yield of 1.18%. Apple’s dividend payout ratio (DPR) is presently 25.90%.
A number of brokerages have recently commented on AAPL. Rosenblatt Securities set a $150.00 price objective on shares of Apple and gave the stock a “sell” rating in a research note on Friday, September 13th. Daiwa Capital Markets set a $223.00 price objective on shares of Apple and gave the stock a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a price objective on shares of Apple in a research note on Thursday, October 31st. New Street Research set a $155.00 price target on shares of Apple and gave the company a “sell” rating in a research note on Tuesday, September 10th. Finally, DA Davidson lifted their price target on shares of Apple from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $239.51.
In other Apple news, Director Arthur D. Levinson sold 37,394 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $257.79, for a total transaction of $9,639,799.26. Following the sale, the director now directly owns 1,170,677 shares in the company, valued at $301,788,823.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arthur D. Levinson sold 17,500 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $201.69, for a total transaction of $3,529,575.00. Following the sale, the director now owns 1,150,783 shares in the company, valued at $232,101,423.27. The disclosure for this sale can be found here. Insiders have sold 465,658 shares of company stock worth $100,549,205 over the last quarter. Insiders own 0.05% of the company’s stock.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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